Algert Global LLC Purchases 951 Shares of Zoom Video Communications, Inc. (NASDAQ:ZM)

Algert Global LLC grew its holdings in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 10.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,841 shares of the company’s stock after buying an additional 951 shares during the period. Algert Global LLC’s holdings in Zoom Video Communications were worth $686,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ZM. Pacer Advisors Inc. grew its stake in shares of Zoom Video Communications by 96.7% in the second quarter. Pacer Advisors Inc. now owns 5,246,938 shares of the company’s stock worth $310,566,000 after acquiring an additional 2,579,720 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Zoom Video Communications by 78.5% in the 2nd quarter. AQR Capital Management LLC now owns 5,731,354 shares of the company’s stock worth $337,233,000 after purchasing an additional 2,520,987 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Zoom Video Communications by 60.9% in the second quarter. Acadian Asset Management LLC now owns 4,902,397 shares of the company’s stock worth $290,153,000 after purchasing an additional 1,855,679 shares during the last quarter. Eagle Asset Management Inc. bought a new position in shares of Zoom Video Communications during the third quarter valued at $62,038,000. Finally, International Assets Investment Management LLC boosted its position in shares of Zoom Video Communications by 6,614.6% during the third quarter. International Assets Investment Management LLC now owns 499,966 shares of the company’s stock valued at $34,868,000 after buying an additional 492,520 shares during the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Zoom Video Communications Stock Performance

Shares of ZM stock opened at $82.69 on Friday. The stock has a fifty day simple moving average of $75.22 and a two-hundred day simple moving average of $66.30. The firm has a market capitalization of $25.45 billion, a PE ratio of 27.56, a PEG ratio of 5.69 and a beta of -0.05. Zoom Video Communications, Inc. has a 52-week low of $55.06 and a 52-week high of $92.80.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wells Fargo & Company boosted their target price on Zoom Video Communications from $60.00 to $70.00 and gave the stock an “underweight” rating in a research report on Tuesday. Stifel Nicolaus boosted their price objective on shares of Zoom Video Communications from $70.00 to $90.00 and gave the company a “hold” rating in a report on Tuesday. The Goldman Sachs Group raised their target price on shares of Zoom Video Communications from $72.00 to $86.00 and gave the stock a “neutral” rating in a report on Tuesday. Evercore ISI upgraded shares of Zoom Video Communications from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $70.00 to $115.00 in a research note on Tuesday. Finally, Scotiabank upgraded Zoom Video Communications to a “hold” rating in a research note on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $85.19.

Insider Transactions at Zoom Video Communications

In other news, CEO Eric S. Yuan sold 178,571 shares of Zoom Video Communications stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $76.91, for a total value of $13,733,895.61. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Velchamy Sankarlingam sold 3,614 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $66.87, for a total value of $241,668.18. Following the transaction, the insider now directly owns 94,000 shares of the company’s stock, valued at approximately $6,285,780. The trade was a 3.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 367,108 shares of company stock valued at $26,796,191 over the last 90 days. Company insiders own 10.78% of the company’s stock.

About Zoom Video Communications

Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.